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20130122
20130122
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CNBC 2
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CNBC
Jan 22, 2013 12:00pm EST
from very own steve grasso. welcome back. good to see you. >> good to see you. >> so the transports are rallying, the dow has been in large part going higher. is this going to last? >> well, the transports have been up since mid november about 17%. but you just touched on one, ksu. if you look at the top four holdings in the transports, they account for basically 40% of the whole index. all of them whether it's upm, fedex or u.p.s., they're all registering overbought right now. >> so you're telling me look for a pull back then in maybe not only the stocks but the transports in general? >> yeah, i think you need to pull back specific stocks obviously if they're 40%. if you get that pull back i think people will start to lose a little bit of luster once we get to 1500, 1505 on the s&p. >> now, grasso, correct me if i'm wrong, but the thing most people watching are concerned about right now, if oil starts to spike here and the xle has been really strong that's not necessarily a great thing for something like fedex and a lot of the other components that benefit from lower oil prices in
CNBC
Jan 22, 2013 9:00am EST
there. periodically getting a new story. we have maria over there, and steve liesman, i mean, it's really -- we're bringing out the big guns. we've got the bazookas there. >> yes, we do. yes, we do. >> it's big. >> it is big. a couple of years ago is when the arab springs started, we were in davos. >> that's right. >> all right. microsoft's there. bombers under fire again. he's under fire constantly. >> it's been a long time. >> let's get a look at the opening bell here in a few seconds. the s&p, as you know, an interesting day, a bit of a run-up here on friday afternoon. let's see how that translates into today's session. at the big board, celebrating the ipo which happens on friday. nasdaq, another ipo from friday, a global enterprise center provider. among the more interesting stories in the papers today, david, deconstruction of what led to the autonomy. interesting color. >> those are always fascinating to read. great reporting by the journal. just in terms of understanding the decision-making, or lack thereof, the directors of the ceo, the pressure he felt he was under. and
Search Results 0 to 1 of about 2